Which of the following statements is false regarding process costing? Multiple Choice The Weighted Average method ignores costs associated with the previous period when calculating current period costs. O Labor and overhead columns may be combined if the beginning WIP percentages complete are both equal and the ending WIP percentages complete are both equal The Weighted Average and FIFO methods will always record the same amount of previous period costs. The same amount of materials, labor, and overhead is used to make each unit. Process costing would be appropriate for a milk producer